Standard Glass Lining Technology IPO opens on Monday: GMP, review, other details among 10 key things to know

Standard Glass Lining Technology Limited’s initial public offering (IPO) is set to open for public bidding on Monday, January 6, and will close on Wednesday, January 8. The company manufactures engineering equipment for the pharmaceutical and chemical sectors in India. 

As of January 4, the grey market premium (GMP) of Standard Glass Lining Technology IPO stood at ₹88 per share. With the upper price band for the public issue at ₹140, the shares are expected to be listed at ₹228, a premium of 62.86 per cent, according to data collected from Investorgain.com.

The grey market premium is an indicator of investors‘ willingness to pay more for the public issue. 

Standard Glass Lining Technology IPO — 10 key things to know

Standard Glass Lining Technology IPO Date: The public issue is set to open for subscription on Monday, January 6, and will close on Wednesday, January 8.

Standard Glass Lining Technology IPO Structure: Hyderabad-based firm aims to raise RS 410.05 crore from the book-built issue, which is a combination of a fresh issue of 1.50 crore equity shares worth ₹210 crore and an offer-for-sale (OFS) of 1.43 crore shares aggregating to ₹200.05 crore.

Standard Glass Lining Technology IPO Price Band: The company has fixed the price band for the public issue at ₹133 to ₹140 per share, with a face value of ₹10 per share.

Standard Glass Lining Technology IPO Lot Size: The officer comprises a lot size of 107 equity shares and their multiples thereof.

Standard Glass Lining Technology Anchor Round: The public issue’s anchor round was held on Friday, January 3. The company raised ₹123.01 crore from anchor investors ahead of the public issue.

Standard Glass Lining Technology IPO Objective: The company aims to use up to ₹10 crore to fund its capital expenditure requirements towards the purchase of machinery and equipment. Up to ₹130 crore will be used to repay or prepay, in full or in part, certain outstanding borrowings. The funds will also be used to repay or prepay in full or in part, of all or a portion of borrowings availed by S2 Engineering Industry Private Limited

The company also aims to invest ₹30 crore into its wholly owned Material Subsidiary and S2 Engineering Industry Private Limited, to fund the capital expenditure requirements towards purchase of machinery and equipment.

Furthermore, ₹20 crore will be used to fund inorganic growth through strategic investments and/or acquisitions, and the remaining funds will be used for general corporate purposes. 

Standard Glass Lining Technology IPO Reservation: The company has reserved up to 50 per cent of the public issue for Qualified Institutional Buyers (QIBs), not less than 15 per cent for Non-Institutional investors (NIIs), and not less than 25 per cent for retail investors, according to the RHP data.

Standard Glass Lining Technology IPO Managers: IIFL Securities and Motilal Oswal Investment Advisors are the book-runners for the public issue, while Kfin Technologies is the registrar of the offer.

Standard Glass Lining Technology IPO Business: The company offers products like Reaction Systems, Storage, Separation and Drying Systems. These are along with providing solutions including including design, engineering, manufacturing, assembly, installation, and standard operating procedures for pharmaceutical and chemical manufacturers.

Standard Glass Lining Technology IPO Financials: The company’s revenues rose 10 per cent year-on-year, to ₹549.68 crore in the financial year 2023-24, while the profits rose 12 per cent to ₹60.01 crore in the same period, compared year-on-year.

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